Income Inequality Higher Than Ever

An academic paper updated by UC Berkley Professor Emmanuel Saez indicates that income disparity in America is higher than ever before.

In 2007, the paper says the top .01 percent of earners took home 6 percent of American wages. The trend of increasing income disparity began to accelerate during the Clinton years and continued to skyrocket under the Bush administration. Between 2002 and 2007, the top 1 percent captured two thirds of income growth, according to the paper.